By Greg Hazley
FTI Consulting reported first quarter venue at its strategic communications division, FD, rose 7.3 percent to $46.4M over 2010 on “modest” U.S. and U.K. client growth and stronger project work in Asia and the U.S.
Overall, the business consulting combine posted a 3.3% increase in revenue for Q1 to $361.8M while net income surged nearly 54% to $21.8M.
President and CEO Jack Dunn said bankruptcy and restructuring business remained soft, but its other operations, like FD, M&A and technology consulting accounted for 9.5 percent growth.
The company said FD has 586 revenue-generating staffers. The firm was the top M&A PR advisor for Q1 based on volume of deals, according to mergermarket, as it counseled 47 transactions during the period worth $66.4B.
During the quarter, FTI acquired certain operations of global consulting firm LECG Corp.
FTI spent $209.4M buying back stock during Q1 and is slated to retire five million shares.
FTI shares fell 7.8% in trading Wednesday to $38.54.
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